Bitcoin mining 2025: Post-halving profitability, hashrate and energy trends

Bitcoin mining entered its fifth epoch after the 2024 halving, with block rewards reduced to 3.125 BTC. This spurred miners to optimize efficiency, cut costs, and upgrade hardware for profitability. Cointelegraph Research’s report, informed by Uminers, analyzes this transformation, covering ASIC improvements, corporate performance, geographical expansion, and new revenue models. The analysis reveals that despite the halving’s financial impact, Bitcoin’s network hashrate climbed to 831 EH/s by May 1, 2025, a 77% increase from the 2024 low. This demonstrates the industry’s focus on efficiency, with larger firms reinvesting in upgrades and energy optimization.

The mining “arms race” centers on power efficiency. Rising energy costs necessitate optimized ASICs. Bitmain’s Antminer S21+ achieves 216 TH/s at 16.5 J/TH, while MicroBT’s WhatsMiner M66S+ reaches 17 J/TH through immersion cooling. TSMC and Samsung’s advancements in 3-nm and upcoming 2-nm chips further fuel this innovation.

Post-halving, profitability tightened. Hashprice dropped from $0.12 in April 2024 to $0.049 by April 2025, while network difficulty hit a record high of 123T. This underscores the importance of low-cost energy. Regions with subsidized power, such as Oman ($0.05–$0.07 per kWh) and the UAE ($0.035–$0.045 per kWh), are attracting institutional miners. Conversely, higher US energy costs are pushing miners to more cost-effective locations in Africa, the Middle East, and Central Asia.

The 2024 halving highlighted the necessity of efficiency. The industry is transitioning towards leaner operations, favoring power-efficient miners. AI computing, global regulations, and hardware advancements will continue shaping the sector. Cointelegraph Research’s report provides a data-driven analysis of the forces impacting mining profitability, infrastructure, and strategic decision-making. This information is for general knowledge and does not constitute financial advice. Conduct thorough research before making investment decisions.